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VNRRQ - Vanguard Natural Resources Inc News Story

$0.015 0.0  11.1%

Last Trade - 16/07/19

Sector
Energy
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £312.8m
Position in Universe th / 6376

BRIEF-Vanguard Natural Resources Successfully Completes Financial Restructuring

Tue 16th July, 2019 11:28pm
July 16 (Reuters) - Vanguard Natural Resources Inc
 VNRRQ.PK :
    * VANGUARD NATURAL RESOURCES, INC. SUCCESSFULLY COMPLETES
FINANCIAL RESTRUCTURING
    * VANGUARD NATURAL RESOURCES INC - EMERGED FROM CHAPTER 11
AS A
NEW LIMITED LIABILITY COMPANY UNDER NAME OF GRIZZLY ENERGY, LLC
    * VANGUARD NATURAL RESOURCES INC - THROUGH ITS FINANCIAL
RESTRUCTURING, COMPANY ELIMINATED MORE THAN $500 MILLION OF
SECURED DEBT FROM ITS BALANCE SHEET
    * VANGUARD NATURAL RESOURCES INC - ALSO ANNOUNCED ITS NEW
BOARD OF
DIRECTORS
    * VANGUARD NATURAL RESOURCES INC - GRIZZLY WILL EMERGE FROM
CHAPTER 11 WITH APPROXIMATELY $375 MILLION OF FUNDED DEBT AND
$47 MILLION OF LIQUIDITY
    * VANGUARD NATURAL RESOURCES INC - AT ITS EMERGENCE, COMPANY
IS
ENTERING INTO AN AMENDED AND RESTATED $65 MILLION RESERVE-BASED
REVOLVING CREDIT FACILITY
    * VANGUARD NATURAL RESOURCES INC - CURRENTLY ANTICIPATE A
TOTAL
CAPITAL EXPENDITURES BUDGET RANGING FROM $43 MILLION TO $50
MILLION FOR FULL YEAR OF 2019
    * VANGUARD NATURAL RESOURCES INC - AT ITS EMERGENCE, COMPANY
IS
ENTERING INTO A FIRST LIEN TERM LOAN A FACILITY OF $65 MILLION
    * VANGUARD NATURAL RESOURCES INC - AT ITS EMERGENCE, COMPANY
IS
ENTERING INTO A "LAST OUT" FIRST LIEN TERM LOAN B FACILITY OF
$285 MILLION

Source text for Eikon:  ID:nPn5zrMzCa 
Further company coverage:  VNRRQ.PK 

 (Reuters.Briefs@thomsonreuters.com)
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